TurboTax is one of the best selling tax software applications. Turbo Tax was created by Intuit, the makers of Quicken.
The TurboTax Home and Business Edition is for sole proprietors, consultants, and single member LLCs. The price for the downloadable business tax software application is $99.95. Features include:
- Create W-2 and 1099 Forms for employees.
- Allows a user to file their business and personal taxes together.
TurboTax Business is made for Corporations, Partnerships and LLCs. The price for the downloadable software is $129.95 for federal taxes only. Notable features include:
- Electronic Filing of K-1 forms with the IRS to show the distribution of net profits among shareholders and partners.
- Create Unlimited W-2, 1099-MISC, 1099-INT and 1099-DIV.
- Handle multiple businesses.
- Covers real estate property activities.
With TurboTax Business, you will need to purchase a TurboTax software application for individuals to complete your personal tax return.
TurboTax includes up to 5 Federal efile returns and some state returns are supported. You are able to print unlimited federal returns which is a plus if you own multiple businesses.
Although there is an extensive amount of information in their FAQs section, videos, tips and 24/7 Support with chat, in order to get one-on-one live support there is an additional charge.
With both versions you receive a downloadable audit support center with step by step guidance in case you are audited by the IRS. This is a downloadable program with no personal support. You are offered the opportunity to purchase Audit Defense services which includes representation by a trained tax professional in the case of an audit.
TurboTax is perfect for the business owners who have multiple businesses or need to prepare multiple returns, are comfortable preparing their own taxes and need little in the way of live support.
Continue on to the next page for more business tax software options.